Market expert Mr. Xoom shares how an XRP run to lofty two-digit targets is plausible using Fibonacci targets from the XRP/Ethereum pair.
He discussed this at a time when XRP and Ethereum were observing the effect of a broader market pullback that hadpushed the global crypto market cap to a low of $2.66 trillion at press time.
XRP Continues to Outperform Ethereum
Interestingly, XRP appears to be showing greater resilience than the rest of the altcoin market. For context, Ethereum has collapsed 48.4% since February. In contrast, XRP has dropped 25% within the same timeframe.
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As a result, the XRP/ETH pair, which tracks XRP’s performance against Ethereum, has continued to increase as Ethereum declines faster than XRP. Notably, since November 2024, the XRPETH pair has increased by 255%.
In his recent analysis, Mr. Xoom noted that he expects XRP to continue outperforming Ethereum as the market progresses. However, going forward, this outperformance would not be due to XRP falling slower than ETH, as has been the case since February, but as a result of XRP rising faster than ETH.
According to Mr. Xoom, while the XRP/ETH pair could continue to rise in the future, he believes Ethereum price would also increase alongside. Notably, the analyst expects the broader crypto market to recover, pushing Ethereum to rebound from recent levels. However, he still believes XRP will spike more than ETH in this market recovery.
For context, due to XRP’s outperformance over the past five months, the XRP/ETH pair has increased from 0.00002024 in November 2024 to the current value of 0.001197. Nonetheless, this level is still much lower than the pair’s peak of 0.003667 in December 2018, suggesting XRP might still have more room to grow against ETH.
Data from Mr. Xoom’s chart shows that the crucial 0.003 psychological mark on the weekly XRPETH chart aligns with the 2.618 Fibonacci extension level. The analyst believes the pair is capable of rising from the current 0.001197 value to hit 0.003, representing a 150% increase.
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XRP Prices at XRP/ETH Value of 0.003
Interestingly, Mr. Xoom projects Ethereum to possibly claim new all-time highs from $6,000 to $10,000 when the broader market recovers from the ongoing turbulence, marking an impressive rebound from the current price of $1,866. This aligns with Ali Martinez’s target.
Notably, if the XRP/ETH pair hits 0.003 when Ethereum trades at $6,000, this will translate to an XRP price of $18. Mr. Xoom had erroneously presented a price of $16. Further, if Ethereum changes hands at $10,000 when the XRPETH pair is at 0.003, the XRP price would stand at $30.
It bears mentioning that several analysts had predicted XRP to reach $30, with pundit DustyBC asserting last June that a “God candle” could do the trick. However, multiple cynics have dismissed the target, especially as it would lead to a market cap of $1.74 trillion for XRP.
Amid the pessimism, Mr. Xoom stressed in his recent analysis that the XRP/ETH projection is to show that the $30 target “isn’t completely crazy.” This echoes the sentiment of crypto trader Ralston Maximus, who suggested last October that the $30 to $35 is not a ridiculous target.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
